You would be forgiven for expecting another week of wild swings in either direction if you have been involved with cryptocurrencies over the years. Swings of 20, 30 and even 50% are fairly commonplace in these volatile markets but this week, all seems to be rather calm at sea.
In fact, our biggest swing was just a 3.79% increase for Ripple which is usually considered a tiny percentage where cryptocurrencies are concerned. Bitcoin was the biggest loser but again, with just a swing in the other direction of 3.08%.
The remainder of the cryptocurrencies that we are following was somewhere in between those two although most did see a small increase in value. So, hardly our most exciting weekly report but we’re sure that many of you will welcome some calm in the marketplace.
It has not been a great few weeks for Bitcoin it has to be said. It suffered a combined loss in value of 20% across our last two reports prior to this one and now it has seen another 3.08% shaved off its value in the last seven days.
Still, those of you still holding on to your investment will still be buoyed for the future of the world’s leading cryptocurrency due to its 86% increase in value over the past few months. It might have taken a bit of a hit in recent weeks but as long as it starts to stabilize, your investment will be in a far better place going forward.
Saturday afternoon was, without doubt, the day which was responsible for the biggest drop this past week. It dropped from just over $10k to that of $9.5k before gradually increasing in value over the next couple of days.
Start – 7/24/19 00:00 am: $9,995.94
Finish – 7/30/19 11:59 pm: $9,688.02
Bitcoin Cash has followed a similar path to its older brother with an increase in value of just under 3% across the last week. This follows an increase of 4.85% in the previous week to go some way to repair what has been a pretty disappointing month in the markets for this cryptocurrency.
Valued at around $270 at the start of May, BCH had almost doubled to close to $510 at the end of June. July has not been the best of months in isolation as that value has steadily decreased but it is still up in value to the tune of 12% in the last 90-days.
Start – 7/24/19 00:00 am: $298.79
Finish – 7/30/19 11:59 pm: $307.19
Not too much has happened with Litecoin as you might have guessed from such a minimal increase in value. An increase is an increase at the end of the day but when you consider the LTC was valued at more than $130 at the start of the month, the rest of the month as a whole can only be described as a little concerning.
That said, go back three months and this cryptocurrency was valued at around $70 which means its current value is still a good 32.79% up on what it was not so long ago.
$95.70 was the weekly high for Litecoin this week and that was seen on Saturday while the weekly low was $86.51 on Monday just gone.
Start – 7/24/19 00:00 am: $90.05
Finish – 7/30/19 11:59 pm: $90.23
While Litecoin enjoyed a rather insignificant gain in value, Dogecoin was on the other side of the coin with a rather insignificant drop in value. Just 0.37% of its value was lost compared to this time last week.
Despite a bit of a boom at the start of July, the month has been a little uninspiring for DOGE. With a combined increase of 15% in value compared to three months ago however, you have to say that things are still looking promising for this cryptocurrency.
Start – 7/24/19 00:00 am: $0.002895
Finish – 7/30/19 11:59 pm: $0.002884
There is not much to write home about with Ethereum as it gained a tiny amount of value across the last seven days. Much like many other cryptocurrencies however, Ethereum is still looking good compared to its 33% lower value around three months ago.
A lot of the action for Ethereum started just after our report last week. It rose to $217.23 on Wednesday morning before dropping rapidly back down to $204.59 by lunchtime. It then enjoyed another boost in value on Thursday to numbers above $220 and they pretty much held until Saturday afternoon when its value reached the sort of range that it has right now.
Start – 7/24/19 00:00 am: $210.36
Finish – 7/30/19 11:59 pm: $212.29
Ripple enjoyed a small but steady increase of around 1.5% in our previous report and that has not been added to with another 3.79% increase in value over the past seven days. Unfortunately, it is still a good 22% down in the last month having dropped significantly in value between the 10th and 12th of July. In the grand scheme of things though, XRP is still up just under 10% over the last 90-days.
The increase this week came just at the right time with Ripple increasing a lot in value on Tuesday before the cut off for this report.
Start – 7/24/19 00:00 am: $0.3082
Finish – 7/30/19 11:59 pm: $0.3199
Concluding our weekly crypto report once again is that of EOS.io and this cryptocurrency has gone a long way to recovering what it lost in our last report. It had dropped 4.47% of its value last time around but has this time seen that value creep back up by 3.65%.
It still sits at a 30% reduction in value from 30-days ago and 11% reduction from 90-days ago, however. That said, if it can maintain its most recent upturn, it might just show another increase by the time of our report at this time next week.
Start – 7/24/19 00:00 am: $4.10
Finish – 7/30/19 11:59 pm: $4.25
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